Boeing reports 30 new orders for the troubled 737 Max in November

For the first time since January, orders for Boeing’s troubled 737 Max airplanes incrementally rose last month — with two firm orders for 30 Max jets in November, the company said Tuesday. In November, Boeing recorded a net increase with 11 commercial airplane orders, well behind its competitor Airbus, which recorded orders for 219 commercial airplanes. Airbus will also win the annual aircraft delivery battle with 77 planes in November compared with just 24 for Boeing. The low delivery total sho


For the first time since January, orders for Boeing’s troubled 737 Max airplanes incrementally rose last month — with two firm orders for 30 Max jets in November, the company said Tuesday.
In November, Boeing recorded a net increase with 11 commercial airplane orders, well behind its competitor Airbus, which recorded orders for 219 commercial airplanes.
Airbus will also win the annual aircraft delivery battle with 77 planes in November compared with just 24 for Boeing.
The low delivery total sho
Boeing reports 30 new orders for the troubled 737 Max in November Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: phil lebeau
Keywords: news, cnbc, companies, troubled, planes, annual, airbus, airlines, boeing, reports, grounding, orders, plane, max, commercial, 737


Boeing reports 30 new orders for the troubled 737 Max in November

For the first time since January, orders for Boeing’s troubled 737 Max airplanes incrementally rose last month — with two firm orders for 30 Max jets in November, the company said Tuesday.

Still, the grounding of Boeing’s most popular model and the move by some customers to cancel Max orders or convert them to other Boeing models has resulted in the company showing it lost a total of 84 orders for commercial planes so far this year.

In November, Boeing recorded a net increase with 11 commercial airplane orders, well behind its competitor Airbus, which recorded orders for 219 commercial airplanes. Year to date, Airbus has logged orders for 940 planes and is on pace to easily win the annual order race between the two aerospace giants.

Unless Boeing has a stunning and completely unexpected surge in demand before the end of the year, it will lose the annual order race to Airbus for the sixth time in the last seven years.

Airbus will also win the annual aircraft delivery battle with 77 planes in November compared with just 24 for Boeing. For the year, Airbus has delivered 725 planes, while Boeing has delivered 345, putting it on pace to have its lowest full-year deliveries since 2008.

The low delivery total shows the impact of the Federal Aviation Administration and other regulators grounding the 737 Max in March after the second crash of a Max plane. Since that grounding, Boeing has built more than 300 Max aircraft, but has not been allowed to deliver any of them until regulators approve changes to the flight-control software in the planes.

Boeing has targeted recertification of the Max this month and the possibility of getting the plane back in service by the end of January. Despite that optimistic outlook, many in the airline industry do not believe the plane will be ungrounded until mid-to-late January, with commercial service unlikely until February or March. Southwest Airlines, American Airlines and United Airlines are not planning to resume commercial flights of the Max until early March.

— CNBC’s Meghan Reeder contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: phil lebeau
Keywords: news, cnbc, companies, troubled, planes, annual, airbus, airlines, boeing, reports, grounding, orders, plane, max, commercial, 737


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China reportedly orders state offices to remove foreign tech which could hit US firms like Microsoft

China Securities said that the order had come from the Chinese Communist party’s Central Office earlier this year, the FT said. China Securities did not respond to a request for comment when contacted by CNBC. Trade war impactBeijing’s move comes against the backdrop of the ongoing U.S.-China trade war in which technology has been front and center. China’s technology firms have been the target of U.S. pressure. China’s latest policy may be seen as one of the most direct moves against U.S. techno


China Securities said that the order had come from the Chinese Communist party’s Central Office earlier this year, the FT said.
China Securities did not respond to a request for comment when contacted by CNBC.
Trade war impactBeijing’s move comes against the backdrop of the ongoing U.S.-China trade war in which technology has been front and center.
China’s technology firms have been the target of U.S. pressure.
China’s latest policy may be seen as one of the most direct moves against U.S. techno
China reportedly orders state offices to remove foreign tech which could hit US firms like Microsoft Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: arjun kharpal
Keywords: news, cnbc, companies, china, state, orders, policy, chinas, firms, securities, offices, war, remove, hit, tech, reportedly, microsoft, chinese, companies, trade, technology, foreign


China reportedly orders state offices to remove foreign tech which could hit US firms like Microsoft

A visitor tries out Microsoft Corp.’s Windows 10 operating system on a tablet. Kiyoshi Ota | Bloomberg | Getty Images

China’s Communist Party has ordered all state offices to remove foreign hardware and software within three years, the Financial Times reported, in a move which could hit major U.S. firms including Microsoft, Dell and HP. The policy has been dubbed “3-5-2” because the replacement of the technology will happen at a pace of 30% in 2020, 50% in 2021, and 20% in 2022, the newspaper said, citing a note from brokerage firm China Securities. Analysts there estimate that 20 million to 30 million pieces of foreign equipment need to be replaced in China. China Securities said that the order had come from the Chinese Communist party’s Central Office earlier this year, the FT said. While the directive is not public, two cybersecurity firms told the FT that their government clients described the policy to them. China Securities did not respond to a request for comment when contacted by CNBC. Meanwhile, China’s Ministry of Industry and Information Technology was not immediately available for comment when contacted by CNBC by fax. Microsoft, HP and Dell did not immediately respond to CNBC’s request for comment outside of business hours. Neil Campling, head of technology, media and telecommunications research at Mirabaud Securities, said the move by the Chinese government aims to protect against an escalation of tensions with the U.S. “That is something that China is looking at to make sure government operations are not affected by escalating tensions with the U.S.,” Campling told CNBC.

Trade war impact

Beijing’s move comes against the backdrop of the ongoing U.S.-China trade war in which technology has been front and center. China’s technology firms have been the target of U.S. pressure. Earlier this year, Huawei was placed on a U.S. blacklist which stopped American firms doing business with the Chinese telecom networking giant. Washington expanded its blacklist in October to include a number of Chinese surveillance firms like Hikvision, one of the world’s biggest companies for such technology. A provision of a U.S. law known as the National Defense Authorization Act also prohibits executive government agencies from procuring telecommunications hardware made by Huawei and another Chinese firm, ZTE.

China’s latest policy may be seen as one of the most direct moves against U.S. technology firms during the trade war. While Chinese government offices often use Chinese PCs such as Lenovo, they run Microsoft’s Windows software and may also use hardware from Dell and HP. The impact on trade negotiations will depend on how the U.S. “digests” China’s move, according to Nick Marro, global trade lead at The Economist Intelligence Unit. “Discrimination against foreign technology has been a part of the policy framework in China for years now, but it’s something that USTR (United States Trade Representative) is already familiar with,” Marro told CNBC. “This might nevertheless complicate the discussions around Huawei, ZTE and other companies in terms of their access to the U.S. market. Much of the popular narrative has centered around the U.S. unfairly banning these Chinese companies from its market; at least with this story, the administration can publicly play the blame game of, ‘well, China’s doing it too, and they’ve been doing it for a long time.'” U.S. companies like Google and Facebook have been blocked from operating in China for several years.

Wider risk


Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: arjun kharpal
Keywords: news, cnbc, companies, china, state, orders, policy, chinas, firms, securities, offices, war, remove, hit, tech, reportedly, microsoft, chinese, companies, trade, technology, foreign


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United orders 50 long-range Airbus jets to replace older Boeing planes

United Airlines on Tuesday announced an order for 50 long-range Airbus jets, handing another victory from a U.S. airline to Boeing’s European rival. The Chicago-based airline ordered 50 Airbus A321XLR planes to replace its aging Boeing 757-200s, and said that it will start to use the planes for international service in 2024. The Chicago-based airline plans to fly the jets, single-aisle planes with extra-long range, to Europe from East Coast hubs Newark and Washington, it said in a release. JetBl


United Airlines on Tuesday announced an order for 50 long-range Airbus jets, handing another victory from a U.S. airline to Boeing’s European rival.
The Chicago-based airline ordered 50 Airbus A321XLR planes to replace its aging Boeing 757-200s, and said that it will start to use the planes for international service in 2024.
The Chicago-based airline plans to fly the jets, single-aisle planes with extra-long range, to Europe from East Coast hubs Newark and Washington, it said in a release.
JetBl
United orders 50 long-range Airbus jets to replace older Boeing planes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: leslie josephs
Keywords: news, cnbc, companies, replace, longrange, range, jets, order, older, airlines, singleaisle, opt, boeing, airline, united, orders, planes, airbus


United orders 50 long-range Airbus jets to replace older Boeing planes

United Airlines on Tuesday announced an order for 50 long-range Airbus jets, handing another victory from a U.S. airline to Boeing’s European rival.

The Chicago-based airline ordered 50 Airbus A321XLR planes to replace its aging Boeing 757-200s, and said that it will start to use the planes for international service in 2024.

The Chicago-based airline plans to fly the jets, single-aisle planes with extra-long range, to Europe from East Coast hubs Newark and Washington, it said in a release.

The carrier is the latest of several U.S. airlines to opt for the planes. JetBlue and American Airlines have both agreed to order some of the long-range single-aisle planes that Airbus is developing.

The decision comes as Boeing is hobbled by the crisis surrounding its 737 Max planes after two crashes, preventing it from dedicating more energy to designing an all-new middle-market plane.

Fuel-efficiency and increased range are enticing airlines to opt for smaller planes on longer routes as they seek to control their operating costs. United said Tuesday that it is also deferring orders of the larger Airbus A350 planes.

Read more here.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: leslie josephs
Keywords: news, cnbc, companies, replace, longrange, range, jets, order, older, airlines, singleaisle, opt, boeing, airline, united, orders, planes, airbus


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With Tesla up 55% in last 3 months, here’s where two pros would buy in

Shares of the electric automaker have climbed a blowout 55% in the last three months, a notable turn for a stock that has struggled this year. As of last week, Tesla was practically flat for 2019 versus the S&P 500’s almost 26% gain. But some investing pros, like Piper Jaffray’s Craig Johnson, feel the stock has run too far, too fast. Michael Binger, president of independent money management firm Gradient Investments, said he’d also consider taking a position in Tesla under the $300 per share le


Shares of the electric automaker have climbed a blowout 55% in the last three months, a notable turn for a stock that has struggled this year.
As of last week, Tesla was practically flat for 2019 versus the S&P 500’s almost 26% gain.
But some investing pros, like Piper Jaffray’s Craig Johnson, feel the stock has run too far, too fast.
Michael Binger, president of independent money management firm Gradient Investments, said he’d also consider taking a position in Tesla under the $300 per share le
With Tesla up 55% in last 3 months, here’s where two pros would buy in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: lizzy gurdus
Keywords: news, cnbc, companies, binger, heres, share, orders, stock, buy, range, trading, tesla, teslas, pros, months, look, taking


With Tesla up 55% in last 3 months, here's where two pros would buy in

Tesla is on a tear.

Shares of the electric automaker have climbed a blowout 55% in the last three months, a notable turn for a stock that has struggled this year. As of last week, Tesla was practically flat for 2019 versus the S&P 500’s almost 26% gain.

With Tesla’s Cybertruck announcement creating buzz and, for some, boosting the stock’s bull case, investors may be taking a second look at the name, particularly after Tesla CEO Elon Musk suggested in a tweet Wednesday that the company had received 250,000 orders for the futuristic-looking pickup.

But some investing pros, like Piper Jaffray’s Craig Johnson, feel the stock has run too far, too fast.

“The stock essentially stuck in a trading range between about 240 and the upper end of the range at 385,” the firm’s senior technical research analyst said Wednesday on CNBC’s “Trading Nation,” citing Tesla’s five-year chart.

Tesla shares closed just below $330 on Friday.

“Having had a huge run up, as you look at the chart, it’s now gotten to be short-term overbought and I’m starting to see momentum slip,” Johnson said. “I’m taking money out of this stock here, waiting for this stock to come back down toward the lower end of that trading range at 290, at minimum.”

Michael Binger, president of independent money management firm Gradient Investments, said he’d also consider taking a position in Tesla under the $300 per share level.

“If the stock pulled below $300 a share, we would certainly be willing to take a look at it,” he said in the same “Trading Nation'” interview. “To me, [the Cybertruck] is more of a sideshow here. Elon’s tweeting about orders, but I’ll tell you, to get an order down you only have to put 100 bucks down, so I don’t put a lot of merit into orders. And we really won’t know if Cybertruck’s going to be a big hit or not until 2022, so it’s a long way off.”

Where Binger found more to praise was across the rest of Tesla’s business, where the company’s fundamentals have been quietly improving.

“What I do like in the story is what’s happening elsewhere in the company. Their total vehicle deliveries is going from about 360,000 this year to 650,000 units two years down the road. Their revenue is forecast to grow 20%-plus for the next several years. They’re actually going to have positive earnings next year, and in 2021, they’re forecast to earn $10 per share,” Binger said.

Add in the potential for Tesla to make $2 billion in free cash flow in 2021, and Binger wasn’t a total bear on the polarizing stock.

“I’ll tell you what: This is a story where I think the rest of the business outside of the Cybertruck is moving forward,” the investor said. “You couldn’t even think about a valuation in the past, and now you can. So, it’s a growth story, it’s outside of the tech and the cloud computing area, so, below 300, I would certainly be willing to take a look at it.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: lizzy gurdus
Keywords: news, cnbc, companies, binger, heres, share, orders, stock, buy, range, trading, tesla, teslas, pros, months, look, taking


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A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday. Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. In a related release, the Markit manufacturing reading, known as the Purchasi


Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations.
The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival.
In a related release, the Markit manufacturing reading, known as the Purchasi
A key manufacturing index shows the US remains in contraction territory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.

The reading came in at 48.1 vs. an expectation of 49.4 and the previous month’s reading of 48.3.

Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. A reading below 50 represents contraction; November was the fourth straight month below the expansion level.

Stocks fell on the report, with the Dow Jones Industrial Average off more than 150 points at 10:30 am ET.

New orders slumped to 47.2, down 1.9 percentage points from October’s 49.1. Inventories, which are a key input for gross domestic product, came in at 45.5, down 3.4 points from the previous month.

The numbers come amid speculation about the pace of U.S. growth.

Recession worries have ebbed from earlier in the year, when the Treasury yield curve was inverted and flashing what has been a reliable 12-month recession indicator for the past 50 years. GDP growth has averaged around 2.4% in 2019, with the third quarter coming in at 2.1%. However, most forecasters expect the fourth quarter to come in under 2%.

The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. This will weigh on job growth and capex over the next few months, to the point where we are not ready to rule out a further [Federal Reserve] easing in January,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note.

Manufacturing is considered a reliable bellwether for how the rest of the economy is doing, though it comprises only about one-fifth of GDP.

Nearly all of the key ISM indicators were at contraction levels in November.

Employment was at 46.6, down 1.1 point for the month, while export orders fell 2.5 points to 47.9 as the U.S. and China continue to look for a resolution to a trade dispute that began more than a year and a half ago.

Supplier deliveries was one of the few metrics in expansion, rising 2.5 points to 52.

In a related release, the Markit manufacturing reading, known as the Purchasing Managers Index, indicated expansion, coming in at 52.6, just above expectations and a bit better than the 51.3 October reading.

The Markit PMI growth reflected an uptick in production and new orders as well as strength in employment indicators. It was the strongest reading in seven months.

Investors will get a close look Friday at the impact the manufacturing slowdown and trade war have had on the broader economy. The Labor Department’s nonfarm payrolls report comes down that day, with economists surveyed by Dow Jones expecting a sharp rebound in growth to 187,000 from November’s 128,000.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


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You can’t get AirPods Pro from Apple before the holidays, so Apple is doubling orders — here’s where they’re still in stock

Apple’s new $249 AirPods Pro appear to be a hit for the holiday season. Shoppers who want AirPods Pro in time for the holidays can still find them in stock at other retailers, however. Best Buy, for example, says that new orders of the AirPods Pro will arrive by Dec. 3. According to Nikkei, Apple asked Luxshare-ICT, which builds the AirPods Pro, to double production to 2 million units per month. Those are still in stock at Apple Store locations, however, and Apple’s website says they will arrive


Apple’s new $249 AirPods Pro appear to be a hit for the holiday season.
Shoppers who want AirPods Pro in time for the holidays can still find them in stock at other retailers, however.
Best Buy, for example, says that new orders of the AirPods Pro will arrive by Dec. 3.
According to Nikkei, Apple asked Luxshare-ICT, which builds the AirPods Pro, to double production to 2 million units per month.
Those are still in stock at Apple Store locations, however, and Apple’s website says they will arrive
You can’t get AirPods Pro from Apple before the holidays, so Apple is doubling orders — here’s where they’re still in stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: todd haselton
Keywords: news, cnbc, companies, cant, airpods, apple, pro, wireless, asked, apples, website, orders, heres, theyre, store, holidays, dec, doubling, stock


You can't get AirPods Pro from Apple before the holidays, so Apple is doubling orders — here's where they're still in stock

Apple’s new $249 AirPods Pro appear to be a hit for the holiday season.

People who order from the online Apple Store now won’t receive the wireless earbuds until after Christmas and Hanukkah, on Dec. 30 at the earliest, according to Apple’s website. As a result, Apple has reportedly asked a manufacturing partner to double production.

Shoppers who want AirPods Pro in time for the holidays can still find them in stock at other retailers, however.

Best Buy, for example, says that new orders of the AirPods Pro will arrive by Dec. 3. Walmart can deliver them by Dec. 2 and Target also has them in stock.

According to Nikkei, Apple asked Luxshare-ICT, which builds the AirPods Pro, to double production to 2 million units per month. The report said Apple has asked other partners including Luxshare and GoerTek to build more of its regular lower-cost AirPods, which start at $179. Those are still in stock at Apple Store locations, however, and Apple’s website says they will arrive by Dec. 2 if ordered now.

Apple hasn’t disclosed figures for AirPods sales, but has said they’re the most popular selling wireless headphones in the world. Apple was not immediately available to comment on holiday orders or the Nikkei report.

The new AirPods Pro come with noise-canceling technology that works really well, a wireless charging case and new, more comfortable rubber earbuds that should fit more people’s ears.


Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: todd haselton
Keywords: news, cnbc, companies, cant, airpods, apple, pro, wireless, asked, apples, website, orders, heres, theyre, store, holidays, dec, doubling, stock


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Here’s what happened to the stock market on Wednesday

Dow Jones Industrial Average rises 42 pointsThe Dow gained 42.32 points, or 0.15%, to close at 28,164.00. Durable goods orders jumpThe Commerce Department said durable goods orders rose 0.6% in October after a 1.4% drop in September. Those positive data sets helped maintain the positive market sentiment that has been building in recent weeks. Apple and Under Armour drive gainsApple shares rose 1.34% and were among the biggest points contributors on the Dow. Under Armour shares gained 6.17% to pu


Dow Jones Industrial Average rises 42 pointsThe Dow gained 42.32 points, or 0.15%, to close at 28,164.00.
Durable goods orders jumpThe Commerce Department said durable goods orders rose 0.6% in October after a 1.4% drop in September.
Those positive data sets helped maintain the positive market sentiment that has been building in recent weeks.
Apple and Under Armour drive gainsApple shares rose 1.34% and were among the biggest points contributors on the Dow.
Under Armour shares gained 6.17% to pu
Here’s what happened to the stock market on Wednesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: fred imbert
Keywords: news, cnbc, companies, points, gained, dow, heres, rose, market, orders, goods, positive, shares, happened, stock, drop


Here's what happened to the stock market on Wednesday

Dow Jones Industrial Average rises 42 points

The Dow gained 42.32 points, or 0.15%, to close at 28,164.00. The S&P 500 advanced 0.42% to 3,153.64. The Nasdaq Composite climbed 0.66% to 8,705.18. Stocks notched fresh record highs following the release of strong economic data.

Durable goods orders jump

The Commerce Department said durable goods orders rose 0.6% in October after a 1.4% drop in September. Weekly jobless claims, meanwhile, posted a surprise drop. Those positive data sets helped maintain the positive market sentiment that has been building in recent weeks. To be sure, Wednesday’s session was more quiet than usual as many traders had already left for the Thanksgiving holiday.

Apple and Under Armour drive gains

Apple shares rose 1.34% and were among the biggest points contributors on the Dow. Under Armour shares gained 6.17% to push the S&P 500 consumer discretionary sector higher after a Raymond James analyst upgraded them.

What happens next?


Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: fred imbert
Keywords: news, cnbc, companies, points, gained, dow, heres, rose, market, orders, goods, positive, shares, happened, stock, drop


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Elon Musk’s tweets about Tesla’s Cybertruck ‘orders’ tell us very little about actual future sales

At $100, the Cybertruck pre-order demands an even smaller commitment than what’s been required for other Tesla vehicles. Fans had to put down $1,000 for the Model 3 in March 2016, and for the Model Y, they currently have to pay $2,500. The company explains that the Cybertruck pre-order payment just covers processing costs and is not considered a deposit for the vehicle. The company didn’t provide such numbers for its forthcoming Model Y, a crossover SUV, or commercial truck known as the Semi. In


At $100, the Cybertruck pre-order demands an even smaller commitment than what’s been required for other Tesla vehicles.
Fans had to put down $1,000 for the Model 3 in March 2016, and for the Model Y, they currently have to pay $2,500.
The company explains that the Cybertruck pre-order payment just covers processing costs and is not considered a deposit for the vehicle.
The company didn’t provide such numbers for its forthcoming Model Y, a crossover SUV, or commercial truck known as the Semi.
In
Elon Musk’s tweets about Tesla’s Cybertruck ‘orders’ tell us very little about actual future sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-25  Authors: lora kolodny
Keywords: news, cnbc, companies, tell, sales, teslas, elon, tesla, cybertruck, model, orders, little, preorder, tweets, vehicles, musks, musk, future, preorders, order, stock


Elon Musk's tweets about Tesla's Cybertruck 'orders' tell us very little about actual future sales

Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif. The cracked window glass occurred during a demonstration on the strength of the glass.

After Tesla’s Cybertruck debut Thursday night featured a botched demo that led to a broken window and sparked memes making fun of the vehicle’s steel trapezoid shape, the stock tanked more than 6% on Friday.

CEO Elon Musk blushed, cursed and made self-effacing jokes when the event didn’t go as planned. He then spent the weekend crowing on Twitter about how “orders” were flowing in for his company’s first electric pickup truck.

On Saturday, Musk claimed there had been 146,000 orders, breaking down the percentage of future customers that were choosing the single, dual, or tri-motor options. He posted updates through Sunday, concluding with a tweet that just said “200k.”

Musk’s tweets to his more than 29 million followers could convince the casual observer that there’s already a massive order book for the Cybertruck, which won’t enter production until late 2021 at the earliest. Long-time fans and critics know better.

What Musk calls an order isn’t actually an order, but rather just a pre-order. At $100, the Cybertruck pre-order demands an even smaller commitment than what’s been required for other Tesla vehicles. Fans had to put down $1,000 for the Model 3 in March 2016, and for the Model Y, they currently have to pay $2,500.

Musk’s tweets appeared to juice the stock price early on Monday, lifting it as much as 3.4% from Friday. But the rally didn’t last, and the stock closed up 1% at $336.34, trailing the broader gains in the S&P 500 tech index.

In the fine print on Tesla’s “Design Your Cybertruck” webpage, below a “Place Order” button, Tesla notes, “By clicking ‘Place Order’ I agree to the Cybertruck Pre-Order Agreement.” The company explains that the Cybertruck pre-order payment just covers processing costs and is not considered a deposit for the vehicle. It also says:

“This Pre-Order Payment and this Agreement are not made or entered into in anticipation of or pending any conditional sale contract.”

Given the minimal $100 payment, it’s impossible to say how many pre-orders will eventually convert to sales.

The Model 3 saw 325,000 pre-orders placed in the first week after its unveiling in 2016, a huge vote of confidence in a company that had only ever produced luxury vehicles. By the end of the second quarter of 2017, the number had climbed to 518,000. Musk said at the time that 63,000 had been refunded, dropping the number to 455,000.

Tesla has the unique ability to draw support and money from fans before a vehicle goes into production. Ford, by contrast, is currently taking $500, refundable “reservations” for its recently unveiled Mustang Mach E. As of last week, only 14,000 people had signed up.

Still, Tesla had moved away from talking about pre-orders in recent years. The company didn’t provide such numbers for its forthcoming Model Y, a crossover SUV, or commercial truck known as the Semi. In January, then-CFO Deepak Ahuja, was asked for some color on early demand for the Model Y.


Company: cnbc, Activity: cnbc, Date: 2019-11-25  Authors: lora kolodny
Keywords: news, cnbc, companies, tell, sales, teslas, elon, tesla, cybertruck, model, orders, little, preorder, tweets, vehicles, musks, musk, future, preorders, order, stock


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Elon Musk says Tesla has received 146,000 orders for its Cybertruck after botched debut

Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif. Elon Musk on Saturday said that Tesla has received 146,000 Cybertruck orders so far. In his boastful tweet on Saturday, Musk conflated orders with pre-orders, which are distinct from a final commitments to purchase the Cybertruck. The CEO wrote: “146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor.” According to the Cybertruck Motor Vehicle Pre-Order Agreement on Tesla’s websit


Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif.
Elon Musk on Saturday said that Tesla has received 146,000 Cybertruck orders so far.
In his boastful tweet on Saturday, Musk conflated orders with pre-orders, which are distinct from a final commitments to purchase the Cybertruck.
The CEO wrote: “146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor.”
According to the Cybertruck Motor Vehicle Pre-Order Agreement on Tesla’s websit
Elon Musk says Tesla has received 146,000 orders for its Cybertruck after botched debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-23  Authors: lora kolodny emma newburger, lora kolodny, emma newburger
Keywords: news, cnbc, companies, musk, elon, botched, preorder, vehicle, model, teslas, refundable, cybertruck, purchase, orders, received, 146000, tesla, debut


Elon Musk says Tesla has received 146,000 orders for its Cybertruck after botched debut

Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif. The cracked window glass occurred during a demonstration on the strength of the glass.

Elon Musk on Saturday said that Tesla has received 146,000 Cybertruck orders so far.

A prospective Cybertruck owner must pay Tesla a refundable, $100 “pre-order fee.” In his boastful tweet on Saturday, Musk conflated orders with pre-orders, which are distinct from a final commitments to purchase the Cybertruck.

The CEO wrote: “146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor.”

According to the Cybertruck Motor Vehicle Pre-Order Agreement on Tesla’s website today, this fee is fully refundable. But to actually purchase the Bladerunner-inspired Tesla Cybertruck, customers also have to take some next steps:

“After you submit your completed pre-order and the options you selected become available in production, we will invite you to complete the configuration of your Vehicle. We will then issue you the Vehicle Configuration and Final Price Sheet based on the base price of the model and any options included or that you select.”

It’s less costly to pre-order a Cybertruck than it has been to order previous electric vehicles unveiled by Tesla.

For example, to pre-order one of Tesla’s forthcoming crossover SUVs, the Model Y, customers had to lay down a heftier $2,500 deposit. In 2016, Tesla took pre-orders for the Model 3 at $1,000 a pop.


Company: cnbc, Activity: cnbc, Date: 2019-11-23  Authors: lora kolodny emma newburger, lora kolodny, emma newburger
Keywords: news, cnbc, companies, musk, elon, botched, preorder, vehicle, model, teslas, refundable, cybertruck, purchase, orders, received, 146000, tesla, debut


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Boeing unveils largest version of its embattled 737 Max plane, despite crisis

Boeing on Friday said it’s unveiled the largest version of its beleaguered 737 Max line, despite a worldwide grounding of the planes after two fatal crashes. Regulators ordered airlines to stop flying the planes after two 737 Max 8s — which comprise the lion’s share of Boeing’s Max orders — crashed within a span of five months. All 346 people on board the two flights — a Lion Air 737 Max in October 2018 and the same model operated by Ethiopian Airlines in March — were killed in the crashes. Boei


Boeing on Friday said it’s unveiled the largest version of its beleaguered 737 Max line, despite a worldwide grounding of the planes after two fatal crashes.
Regulators ordered airlines to stop flying the planes after two 737 Max 8s — which comprise the lion’s share of Boeing’s Max orders — crashed within a span of five months.
All 346 people on board the two flights — a Lion Air 737 Max in October 2018 and the same model operated by Ethiopian Airlines in March — were killed in the crashes.
Boei
Boeing unveils largest version of its embattled 737 Max plane, despite crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-22  Authors: leslie josephs
Keywords: news, cnbc, companies, manufacturer, 737, airlines, repeatedly, unveils, plane, despite, largest, planes, regulators, crisis, passengers, embattled, version, boeing, orders, max


Boeing unveils largest version of its embattled 737 Max plane, despite crisis

Boeing on Friday said it’s unveiled the largest version of its beleaguered 737 Max line, despite a worldwide grounding of the planes after two fatal crashes.

The manufacturer showed off the new jet to employees at its Renton, Washington, factory, but the plane isn’t scheduled for its first flight until next year.

The ceremony comes amid one of the worst crises in Boeing’s more than 100-year history. Regulators ordered airlines to stop flying the planes after two 737 Max 8s — which comprise the lion’s share of Boeing’s Max orders — crashed within a span of five months. All 346 people on board the two flights — a Lion Air 737 Max in October 2018 and the same model operated by Ethiopian Airlines in March — were killed in the crashes.

Boeing said on Nov. 11 that it expects regulators to clear the manufacturer to start delivering the Max planes to airlines again as early as December, but officials have repeatedly said that they don’t have a firm timeline. The company has developed a software fix for the planes after a flight-control system — which was erroneously activated and repeatedly pushed the planes’ nose down in the two flights — was implicated in both crashes.

Boeing has more than 550 orders for the Max 10, the largest variant, making it a small portion of the backlog of around 4,400 Max jetliners. The Max 10 can fit 188-204 passengers in a two-class configuration, compared with 162-178 passengers on the Max 8 in two classes.


Company: cnbc, Activity: cnbc, Date: 2019-11-22  Authors: leslie josephs
Keywords: news, cnbc, companies, manufacturer, 737, airlines, repeatedly, unveils, plane, despite, largest, planes, regulators, crisis, passengers, embattled, version, boeing, orders, max


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